Column: Electric dreams turn into a nightmare for battery metals
A sector that was once racing to build new supply has been closing mines and deferring projects as low prices bite into the cost curve.
Rising inflation in China and India’s tenth interest rate hike since March 2010, is set to take a toll on consumers preference for the yellow metal, according to analysts and traders.
“Gold and silver will surely get pummelled in the near term with signs of a stronger US dollar and yet another rate hike in India. Investors have very little savings these days and prefer not to invest in gold,” said Manoj Maheswari, bullion analyst at a brokerage firm here.
